Silicon Valley Bank’s failure, the government’s depositor rescue, and venture capitalists’ incredible tantrum.

Remind me why, exactly, these guys have so much control over technological innovation? Photo illustration by Slate. Photos by Liu Guanguan/China News Service/VCG via Getty Images, gpointstudio/iStock/Getty Images Plus, and francescoch/iStock/Getty Images Plus. If the technological innovation coming out of Silicon Valley is as important as venture capitalists insist, the past few days suggest they…

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Silicon Valley Bank’s Collapse Causes Strain for Young Companies – The New York Times

  Young companies raced to get their money out of the bank, which was central to the start-up industry. Some said they could not make payroll. Friday at the headquarters of Silicon Valley Bank, which has been a financial partner to start-ups and venture capital firms.Credit…Jeff Chiu/Associated Press Erin Griffith Erin Griffith reports on start-ups…

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Peter Thiel’s Founders Fund got its cash out of Silicon Valley Bank before it was shut down, report says

© Provided by Business Insider Peter Thiel was a cofounder of PayPal. Marco Bello/Getty Images Peter Thiel’s Founders Fund withdrew all its funds from Silicon Valley Bank, Bloomberg reported. His VC fund took action after encountering problems with transfers, per the report. The fund had no cash in with SVB by Thursday morning, Bloomberg reported….

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Protocol-Based Social Media Is Having A Moment As Meta, Medium, Flipboard, And Mozilla All Get On Board | Techdirt

from the make-it-so dept Over the last couple of weeks there have been a number of interesting developments regarding protocol-based, decentralized social media, and each time I plot out an article about it, something else pops up to add to the story, including Thursday evening as I finally started writing this and news broke that…

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